https://www.taxtmi.com/caselaws?id=385891 Section 54F is a beneficial provision to be construed liberally, and the decisive requirement is timely investment of capital gains in a residential house. Where the assessee paid the consideration for the new house within the prescribed period, delayed registration of the sale deed and later possession did not by themselves defeat the exemption claim. The Tribunal followed the jurisdictional High Court's view that completion of registration is not indispensable if the investment in the new residential property was otherwise made within time. The disallowance was therefore unsustainable and the exemption claim was accepted. en-us Fri, 13 Sep 2019 00:00:00 +0530 Mon, 16 Sep 2019 12:17:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385891 Section 54F is a beneficial provision to be construed liberally, and the decisive requirement is timely investment of capital gains in a residential house. Where the assessee paid the consideration for the new house within the prescribed period, delayed registration of the sale deed and later possession did not by themselves defeat the exemption claim. The Tribunal followed the jurisdictional High Court's view that completion of registration is not indispensable if the investment in the new residential property was otherwise made within time. The disallowance was therefore unsustainable and the exemption claim was accepted. Case-Laws Income Tax Fri, 13 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385891